Newly Formed Company Poised for Sustained Growth With a Strengthened Balance Sheet, Resolved Litigation Overhang, Diversified Portfolio of Medicines and a Deep New Product Pipeline
MALVERN, Pa., April 23, 2024 /PRNewswire/ — Endo, Inc. (“Endo” or the “Company”), a newly formed entity, today announced that it has successfully completed the previously announced acquisition of substantially all of the assets of Endo International plc (“EIP”), as contemplated under EIP’s plan of reorganization (the “Plan”). With the Plan’s effectiveness, EIP’s operating assets have exited the Chapter 11 financial restructuring process with significantly reduced outstanding indebtedness and resolution of EIP’s pre-bankruptcy litigation overhang.
Following today’s closing, Endo is poised for sustained growth and is strategically positioned to operate with a strong balance sheet, a broad, diversified portfolio of on-market medicines across its four segments, a deep pipeline of innovative and differentiated product candidates, and a highly skilled team.
“We believe Endo is well positioned to create value for our stakeholders over the long-term as we execute on our strategic priorities,” said Blaise Coleman, Endo, Inc.’s President and Chief Executive Officer. “In particular, we are focused on growing our Branded Pharmaceuticals segment, anchored by XIAFLEX®, reviving growth in our Sterile Injectables segment through the launch of differentiated new products, and leveraging our improved balance sheet to drive new growth investments.”
The Endo Board of Directors is comprised of seven members, including six independent directors. A full listing of Endo’s Board members and their biographical information can be found here.
Endo is currently a privately held company but has begun the process of listing its equity on a national stock exchange.
Mr. Coleman concluded, “I would like to extend my sincere thanks to all of our team members. Through their passion, commitment and hard work, we successfully moved our business forward during the financial restructuring process while remaining focused on helping everyone we serve live their best lives.”
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Endo, Inc.
Endo is a diversified specialty pharmaceutical company boldly transforming insights into life-enhancing therapies. Our passionate team members collaborate to develop and deliver these essential medicines. Together, we are committed to helping everyone we serve live their best life. Learn more at www.endo.com or connect with us on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the statements by Mr. Coleman and any statements relating to growth prospects, value creation, balance sheet, litigation, product development, product pipeline, business growth, XIAFLEX®, the Branded Pharmaceuticals and Sterile Injectables segments, and the public equity listing. Statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may,” “look forward,” “intends,” “guidance,” “future,” “potential” or similar expressions are forward-looking statements. Because these statements reflect Endo’s current views, expectations and beliefs concerning future events, they involve risks and uncertainties, some of which Endo may not currently be able to predict. Although Endo believes that these forward-looking statements and other information are based upon reasonable assumptions and expectations, readers should not place undue reliance on these or any other forward-looking statements and information. Actual results may differ materially and adversely from current expectations based on a number of factors, including, among other things, the following: changes in competitive, market or regulatory conditions; changes in legislation or regulations; the ability to obtain and maintain adequate protection for intellectual property rights; the impacts of competition such as those related to XIAFLEX®; the timing and uncertainty of the results of both the research and development and regulatory processes; health care and cost containment reforms, including government pricing, tax and reimbursement policies; the performance including the approval, introduction and consumer and physician acceptance of current and new products; the ability to develop and expand our product pipeline and to continue to develop the market for XIAFLEX® and other branded or unbranded products; the effectiveness of advertising and other promotional campaigns; and the timely and successful implementation of any strategic priorities. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities laws.
Copies of the Company’s press releases and additional information about the Company are available at www.endo.com or you can contact the Company’s Investor Relations Department at [email protected].
SOURCE Endo, Inc.